Consider a company town where the ABC Corporation is the only employer. Assume ABC sells its output in a purely competitive market. The city council is considering a proposal to lower the minimum wage from its current level of W2 to W1, as shown in the graph above. Given the marginal revenue product of labor (MRP), labor supply (SL), and marginal cost of labor (MRC) curves, this policy would:
A. Increase employment from L1 to L2
B. Increase employment from L1 to L3
C. Reduce employment from L4 to L3
D. Reduce employment from L1 to L0
A. Increase employment from L1 to L2
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According to Maslow's Hierarchy of Needs, physiological is the most basic. What is the need that comes next?
a. Esteem b. Self-Actualization c. Belongingness and Love d. Safety
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A) dead capital. B) deregulation. C) inefficient government regulation. D) corruption.
Paper money is a good example of commodity money
a. True b. False Indicate whether the statement is true or false